Why Corporate Alumni Programs Are On The Rise In 2020
The establishment of corporate alumni programs rose in the list of priorities for HR leaders in 2020 as companies from a variety of industries look to alumni to help boost sales and lower recruiting costs.
Firms from many industries such as professional service have recognized the value of formal alumni programs for decades now, while others have been slower to the draw. Who would have thought that a pandemic would be the nudge they needed to pull the trigger.
Whether due to unfortunate restructuring circumstances, or the realization that relationships are more important than ever before, corporate alumni programs have found their way to the top of HR leaders' 2020 priority list. Organizations from industries like entertainment, hospitality, health care, automotive, technology and others are seeing the value and are looking to launch a program as quickly as possible.
Why bother establishing a formal platform? Well, to put it bluntly, you’d be silly not to. An alumni platform offers automation and segmentation capabilities that social media sites simply don’t have and they deliver on business objectives that far outweigh the set-up and maintenance costs of the software.
One Global 500 company who established their program to drive new business reported $400M in alumni-assisted sales in 2019, while also seeing $16M in recruitment cost savings last year alone.
A technology firm looking to boost their ecosystem and brand exposure reported that their alumni recommend their former organization as a great place to work nearly 9x per year. They recognize that having strong advocates in today's market is more important than ever before.
Although the world feels like it’s turned upside down right now, one thing still rings true - your people are crucial to your organization's success. What you do now to nurture relationships with your people from pre-hire to post-hire can have a massive impact on your bottom line and reputation in the market.
Considering launching a program for your firm? We can support you during your exploratory journey through to execution. Contact us - firstname.lastname@example.org